30 Mar '14, 1pm

Who is using bitcoins in San Diego?

Who is using bitcoins in San Diego?

Steven Michaels ordered an apple turnover for $1.75 from Kearny Mesa’s Pangea Bakery Cafe on a recent Thursday. But he didn’t pay for the pastry in cash. Instead, Michaels, 47, pulled out his smartphone and sent the cashier 0.0027 bitcoin. Then he walked away with his turnover, a little bit lighter in the virtual wallet. The day he bought the pastry, one bitcoin was worth about $640. Michaels, who runs what’s called the Digital Currency Institute, estimates he’s one of maybe 600 people in San Diego County who deal in the cryptocurrency, traded around the globe currently at about $507 each. That’s pretty steep for a piece of code that isn’t legal tender or a publicly traded stock. Still, the bitcoin has developed a key, small following from people who like all that it offers: no banks or regulations when it comes to accessing money, a global currency without exchange rates ...

Full article: http://www.utsandiego.com/news/2014/mar/30/bitcoin-crypto...

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